Wedbush Reiterates “Outperform” Rating for Inozyme Pharma (NASDAQ:INZY)

Wedbush restated their outperform rating on shares of Inozyme Pharma (NASDAQ:INZY) in a research report released on Monday morning, Benzinga reports. The firm currently has a $15.00 price target on the stock.

Other analysts have also issued research reports about the company. Needham & Company LLC restated a buy rating and issued a $23.00 price objective on shares of Inozyme Pharma in a research note on Tuesday, August 6th. HC Wainwright reaffirmed a buy rating and set a $14.00 price target on shares of Inozyme Pharma in a report on Thursday, August 8th. Stifel Nicolaus assumed coverage on shares of Inozyme Pharma in a report on Thursday, September 12th. They issued a buy rating and a $16.00 price objective on the stock. Finally, Jefferies Financial Group reissued a buy rating and issued a $17.00 price objective (up from $16.00) on shares of Inozyme Pharma in a research report on Tuesday, August 13th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of Buy and an average price target of $16.14.

Inozyme Pharma Price Performance

Shares of INZY opened at $5.06 on Monday. The company has a current ratio of 9.84, a quick ratio of 9.84 and a debt-to-equity ratio of 0.48. The company’s fifty day simple moving average is $5.21 and its 200 day simple moving average is $5.12. Inozyme Pharma has a 1-year low of $2.69 and a 1-year high of $7.80. The company has a market cap of $312.99 million, a price-to-earnings ratio of -3.69 and a beta of 1.51.

Inozyme Pharma (NASDAQ:INZY) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.07). On average, research analysts forecast that Inozyme Pharma will post -1.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Inozyme Pharma

Hedge funds and other institutional investors have recently modified their holdings of the company. Superstring Capital Management LP bought a new position in Inozyme Pharma during the fourth quarter worth about $528,000. Values First Advisors Inc. acquired a new stake in shares of Inozyme Pharma in the second quarter valued at approximately $76,000. Samlyn Capital LLC boosted its stake in shares of Inozyme Pharma by 15.0% in the second quarter. Samlyn Capital LLC now owns 3,350,535 shares of the company’s stock valued at $14,943,000 after buying an additional 437,622 shares during the period. Affinity Asset Advisors LLC grew its position in Inozyme Pharma by 36.7% during the fourth quarter. Affinity Asset Advisors LLC now owns 1,885,802 shares of the company’s stock worth $8,034,000 after buying an additional 505,950 shares in the last quarter. Finally, Eventide Asset Management LLC increased its stake in Inozyme Pharma by 1.8% during the 4th quarter. Eventide Asset Management LLC now owns 3,179,837 shares of the company’s stock worth $13,546,000 after acquiring an additional 54,837 shares during the period. Institutional investors and hedge funds own 88.30% of the company’s stock.

About Inozyme Pharma

Inozyme Pharma, Inc, a clinical-stage rare disease biopharmaceutical company, focuses on developing novel therapeutics for the treatment of vasculature, soft tissue, and skeleton diseases. The company's lead product candidate is INZ-701, a soluble, recombinant, genetically engineered, and fusion protein for the treatment of ENPP1 and ABCC6 deficiencies, as well as patients with end-stage kidney disease receiving hemodialysis.